Sterling came under renewed pressure at the start of European session, triggered by a deeper-than-expected contraction in UK GDP for April. Services sector, the economy’s dominant component, posted its first monthly decline since October. Nine Read more…
The relief that the US and China may have reached some kind of agreement that could relax Chinese exports of rare earth metals to the US—in exchange for allowing more Chinese students to study at Read more…
In focus today This afternoon, US May PPI will provide markets with further sense of tariff-driven cost pressures. Yesterday’s lower-than-expected CPI report showed that firms have remained cautious with passing through the rising costs. Read Read more…
The UK economy contracted -0.3% mom in April, a sharper decline than the expected -0.1%. The main drag came from the services sector, which fell -0.4% mom and contributed most to the monthly GDP drop. Read more…
Daily Pivots: (S1) 1.1429; (P) 1.1465; (R1) 1.1524; More… EUR/USD’s rise from 1.1064 resumed by breaking through 1.1494 and intraday bias is back on the upside for 1.1572 high. Strong resistance could be seen there Read more…
Daily Pivots: (S1) 144.13; (P) 144.80; (R1) 145.27; More… Intraday bias in USD/JPY stays neutral as range trading continues. On the upside, above 146.27 resistance will argue that price actions from 148.64 has completed as Read more…
Daily Pivots: (S1) 1.3486; (P) 1.3526; (R1) 1.3589; More… GBP/USD is still bounded in range below 1.3615 and intraday bias remains neutral. With 1.3414 support intact, further rally remains in favor. On the upside, break Read more…
Daily Pivots: (S1) 0.8180; (P) 0.8209; (R1) 0.8234; More…. Immediate focus is now on 0.8156 support in USD/CHF with current fall. Firm break there would resume the decline from 0.8475 to retest 0.8038 low. Strong Read more…
Daily Pivots: (S1) 0.6483; (P) 0.6514; (R1) 0.6533; More… AUD/USD quickly lost momentum after edging higher to 0.6545 and intraday bias is turned neutral again. Considering bearish divergence condition in 4H MACD, break of 0.6478 Read more…
Daily Pivots: (S1) 1.3651; (P) 1.3671; (R1) 1.3691; More… USD/CAD is still bounded in established range above 1.3633 and intraday bias stays neutral. Considering bullish convergence condition in 4H MACD, firm break of 1.3741 will Read more…